Local digital economy to hit $28B by 2025 — study
THE Philippine digital economy’s gross merchandise value (GMV) is seen to hit $28 billion in 2025, accelerating to a 30% compound annual growth rate (CAGR), driven by the growth in new digital consumers, the latest e-Conomy Southeast Asia report by Bain & Company, Google, and Temasek said.
PHL may attract oil traders after loss of refining sector
MORE oil traders might see the Philippine downstream market attractive with the impending loss of its oil refining industry, according to an oil executive.
Remittances bounce back in Sept.
CASH REMITTANCES from overseas Filipinos rebounded in September, growing at the fastest pace in more than two years after a decline in August.
Entrepreneurs either avoid debt or cannot borrow amid pandemic
ABDUL JOHN A. CANDELARIO, 30, tried to borrow half-a-million pesos from a bank so he could expand his Korean barbecue business and capitalize on the booming food delivery service amid a lockdown meant to contain a coronavirus pandemic. He got turned down.
Car sales drop 27% in October
VEHICLE SALES in October plunged by 27.3% year on year to 25,023 units, the highest sales volume since the start of the coronavirus pandemic, according to an industry group.
Swiss challenge for NAIA rehab seen completed by Q1
MEGAWIDE CONSTRUCTION Corp. expects the Swiss challenge for the P109-billion Ninoy Aquino International Airport (NAIA) rehabilitation project to be completed in the first quarter of 2021.
BSP to pause rate cuts for now — poll
BENCHMARK policy rates will likely be maintained by the Bangko Sentral ng Pilipinas (BSP) on Thursday, with the financial system seeing excess liquidity and an anticipated pickup in state spending, according to analysts.
Philippines signs RCEP, world’s biggest trade deal
FIFTEEN Asia-Pacific economies, including the Philippines, signed the world’s largest free trade deal on Sunday, with observers saying the deal could boost Philippine market access while others believe it would worsen the trade balance.
PHL economic outlook dims
CREDIT RATING agencies and other institutions are likely to further cut their gross domestic product (GDP) outlook for the Philippines this year, after third-quarter data showed a slower-than-expected pace of recovery and the country continues to struggle to contain the coronavirus disease 2019 (COVID-19) pandemic.
OECD cuts Philippine growth outlook
By Beatrice M. Laforga, Reporter
The Philippines is expected to experience the worst economic contraction this year among five economies of the Association of Southeast...
10-month PEZA investments fall amid pandemic
Investments in the country’s economic zones fell by more than a quarter to P72.6 billion in the 10 months through October amid a coronavirus...
Forex reserves hit all-time high at end-October
By Beatrice M. Laforga, Reporter
Philippine dollar reserves rose to a fresh record of $103.814 billion at the end of October, boosted by the central...